The Popularity Of Apartment Rentals In The United States
From student housing near me to townhouses for rent, there are many popular rental homes available in the United States. In fact, renting is now more popular than it has ever been since the year of 1965, especially among young people. The data backs this up, showing that there are more than one hundred and eleven million renters in the United States by the time that we had reached the end of the year of 2017. In the year of 2018, this number is only likely to increase.
After all, it has been found that for every minute and a half that passes by, a new person is making the decision to rent an apartment and sign a lease. In total, it is estimated that young people make up the majority population of renters in the United States, with those who are between the age of fifteen and and the age of thirty four making up more than forty and a half percent of all renters all throughout the United States.
There are many reasons that this is the case. For one, many renters are students looking for student apartments and student housing near me. Real estate for students is on the rise, as it has been found that more than eighty five percent of all college students here in the United States currently live off of campus, moving out of and away from places like student housing near me.
There are many reasons that students choose not to live in places like student housing near me for the entirety of their college careers. After all, students enter college as teenagers but typically leave it as adults. Student housing near me (and student housing all throughout the country) tends to be much more restrictive than apartment living, and many college students are ready for more freedom by the time that they reach their upperclassmen years. Unfortunately, student housing near me often does not provide the freedom that they seek and so they instead look into student rental units close to school.
Recent college graduates are also likely to rent apartments – though certainly not student housing near me. Renting an apartment is more than ideal for the typical recent graduate, as such a new graduate often does not know exactly where their life will take them next. Therefore, having a permanent home that they own is less than ideal for their situation, but having an apartment with a lease that will end sooner rather than later is.
On top of this, recent college graduates and other such young people are far more likely to be able to afford to rent an apartment than to buy a home. After all, buying a home requires quite the sizable down payment in many circumstances, something that many young people – the vast majority of young people, at that – simply do not have. Renting an apartment while you save up money to someday buy a house once you have established yourself a little more firmly is the way to go for many different people here in the United States, particularly in recent years.
Of course, renting an apartment can be ideal for anyone who is looking to save a little bit of money and it can actually also be perfect for someone who doesn’t need very much space. For the single adult who is not married and has no children (yet), having an entire house is likely not worth the cost of it. An apartment or even a condo (if they are looking to own instead of rent) can be the perfect fit, and apartments come in so many shapes and sizes (and at so many different price points) that there is almost certainly the right apartment out there for just about everybody.
But there are a number of things to consider before renting an apartment. The first, of course, is budget, as it will be necessary to pay not only rent on a monthly basis, but any number of utilities as well. The cost of living in certain places of the country can most certainly be expensive, and finding the right apartment within your budget can take some time.